Stifel Financial Corp Sells 399 Shares of Penumbra, Inc. (NYSE:PEN)

Stifel Financial Corp cut its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 11.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,982 shares of the company’s stock after selling 399 shares during the period. Stifel Financial Corp’s holdings in Penumbra were worth $579,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Janus Henderson Group PLC lifted its stake in Penumbra by 128.1% during the 3rd quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock valued at $129,967,000 after acquiring an additional 375,684 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Penumbra by 3,832.3% in the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock valued at $71,564,000 after purchasing an additional 358,932 shares during the last quarter. Champlain Investment Partners LLC lifted its position in shares of Penumbra by 20.6% during the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock valued at $300,786,000 after purchasing an additional 264,122 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Penumbra during the third quarter worth about $31,965,000. Finally, Braidwell LP boosted its holdings in Penumbra by 70.0% during the third quarter. Braidwell LP now owns 361,428 shares of the company’s stock worth $70,229,000 after purchasing an additional 148,834 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Analysts Set New Price Targets

PEN has been the topic of several recent analyst reports. Citigroup lifted their target price on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a research report on Thursday, October 31st. BTIG Research raised their target price on Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Leerink Partnrs raised shares of Penumbra to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Leerink Partners initiated coverage on shares of Penumbra in a report on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.00.

Insider Buying and Selling at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $190.76, for a total value of $114,456.00. Following the sale, the executive vice president now owns 60,488 shares of the company’s stock, valued at $11,538,690.88. This trade represents a 0.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Harpreet Grewal sold 166 shares of Penumbra stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $190.83, for a total value of $31,677.78. Following the sale, the director now owns 8,697 shares of the company’s stock, valued at approximately $1,659,648.51. This trade represents a 1.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,418 shares of company stock valued at $11,303,723 in the last three months. Company insiders own 5.00% of the company’s stock.

Penumbra Price Performance

Shares of NYSE PEN opened at $240.54 on Friday. The stock has a fifty day moving average of $234.87 and a 200-day moving average of $204.94. The stock has a market cap of $9.23 billion, a PE ratio of 279.70, a price-to-earnings-growth ratio of 2.47 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.34.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.16. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The firm had revenue of $301.04 million for the quarter, compared to analysts’ expectations of $297.36 million. During the same period in the prior year, the business posted $0.67 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. Equities research analysts anticipate that Penumbra, Inc. will post 2.81 earnings per share for the current year.

About Penumbra

Penumbra, Inc, together with its subsidiaries, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers peripheral products, including the Indigo System for power aspiration of thrombus in the body; Lightning Flash, a mechanical thrombectomy system; Lightning Bolt 7, an arterial thrombectomy system; and CAT RX.